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Home Nasdaq

Investors Punish Lam Research for Disappointing Outlook

Max "The Mako" by Max "The Mako"
April 19, 2023
in News, Nasdaq
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Investors Punish Lam Research for Disappointing Outlook
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Lam Research, a semiconductor equipment vendor, reported better-than-expected earnings for its fiscal third quarter but provided a disappointing outlook for the current period, leading to a drop in LRCX stock during extended trading. For the quarter ended March 26, the California-based company earned an adjusted $6.99 per share on sales of $3.87 billion, surpassing FactSet analysts’ expectations of $6.52 per share on sales of $3.82 billion. However, Lam’s earnings were lower than the year-earlier period, in which it earned $7.40 per share on sales of $4.06 billion.

As of the regular trading session on Wednesday, LRCX stock is listed on the IBD Tech Leaders and IBD Big Cap 20 stock lists, with a best-possible IBD Composite Rating of 99, indicating its top 1% performance in the past 12 months. Further details on the earnings report are yet to be released.

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